diff --git a/crates/egui/src/style.rs b/crates/egui/src/style.rs
index be402150..c460312b 100644
--- a/crates/egui/src/style.rs
+++ b/crates/egui/src/style.rs
@@ -4,6 +4,7 @@
 
 use std::{collections::BTreeMap, ops::RangeInclusive, sync::Arc};
 
+use emath::Align;
 use epaint::{text::FontTweak, Rounding, Shadow, Stroke};
 
 use crate::{
@@ -196,6 +197,11 @@ pub struct Style {
     /// which will take precedence over this.
     pub override_font_id: Option<FontId>,
 
+    /// How to vertically align text.
+    ///
+    /// Set to `None` to use align that depends on the current layout.
+    pub override_text_valign: Option<Align>,
+
     /// The [`FontFamily`] and size you want to use for a specific [`TextStyle`].
     ///
     /// The most convenient way to look something up in this is to use [`TextStyle::resolve`].
@@ -1201,6 +1207,7 @@ impl Default for Style {
         Self {
             override_font_id: None,
             override_text_style: None,
+            override_text_valign: Some(Align::Center),
             text_styles: default_text_styles(),
             drag_value_text_style: TextStyle::Button,
             number_formatter: NumberFormatter(Arc::new(emath::format_with_decimals_in_range)),
@@ -1501,6 +1508,7 @@ impl Style {
         let Self {
             override_font_id,
             override_text_style,
+            override_text_valign,
             text_styles,
             drag_value_text_style,
             number_formatter: _, // can't change callbacks in the UI
@@ -1534,7 +1542,7 @@ impl Style {
             ui.end_row();
 
             ui.label("Override text style");
-            crate::ComboBox::from_id_salt("Override text style")
+            crate::ComboBox::from_id_salt("override_text_style")
                 .selected_text(match override_text_style {
                     None => "None".to_owned(),
                     Some(override_text_style) => override_text_style.to_string(),
@@ -1550,6 +1558,28 @@ impl Style {
                 });
             ui.end_row();
 
+            fn valign_name(valign: Align) -> &'static str {
+                match valign {
+                    Align::TOP => "Top",
+                    Align::Center => "Center",
+                    Align::BOTTOM => "Bottom",
+                }
+            }
+
+            ui.label("Override text valign");
+            crate::ComboBox::from_id_salt("override_text_valign")
+                .selected_text(match override_text_valign {
+                    None => "None",
+                    Some(override_text_valign) => valign_name(*override_text_valign),
+                })
+                .show_ui(ui, |ui| {
+                    ui.selectable_value(override_text_valign, None, "None");
+                    for align in [Align::TOP, Align::Center, Align::BOTTOM] {
+                        ui.selectable_value(override_text_valign, Some(align), valign_name(align));
+                    }
+                });
+            ui.end_row();
+
             ui.label("Text style of DragValue");
             crate::ComboBox::from_id_salt("drag_value_text_style")
                 .selected_text(drag_value_text_style.to_string())
diff --git a/crates/egui/src/text_selection/accesskit_text.rs b/crates/egui/src/text_selection/accesskit_text.rs
index 99599d01..f56ab9ed 100644
--- a/crates/egui/src/text_selection/accesskit_text.rs
+++ b/crates/egui/src/text_selection/accesskit_text.rs
@@ -77,7 +77,7 @@ pub fn update_accesskit_for_text_widget(
                     value.push(glyph.chr);
                     character_lengths.push((value.len() - old_len) as _);
                     character_positions.push(glyph.pos.x - row.rect.min.x);
-                    character_widths.push(glyph.size.x);
+                    character_widths.push(glyph.advance_width);
                 }
 
                 if row.ends_with_newline {
diff --git a/crates/egui/src/ui.rs b/crates/egui/src/ui.rs
index 3a75afb2..2a2c790c 100644
--- a/crates/egui/src/ui.rs
+++ b/crates/egui/src/ui.rs
@@ -617,6 +617,14 @@ impl Ui {
         self.wrap_mode() == TextWrapMode::Wrap
     }
 
+    /// How to vertically align text
+    #[inline]
+    pub fn text_valign(&self) -> Align {
+        self.style()
+            .override_text_valign
+            .unwrap_or_else(|| self.layout().vertical_align())
+    }
+
     /// Create a painter for a sub-region of this Ui.
     ///
     /// The clip-rect of the returned [`Painter`] will be the intersection
diff --git a/crates/egui/src/widget_text.rs b/crates/egui/src/widget_text.rs
index 29d59ff1..03b8cbb9 100644
--- a/crates/egui/src/widget_text.rs
+++ b/crates/egui/src/widget_text.rs
@@ -648,7 +648,7 @@ impl WidgetText {
         available_width: f32,
         fallback_font: impl Into<FontSelection>,
     ) -> Arc<Galley> {
-        let valign = ui.layout().vertical_align();
+        let valign = ui.text_valign();
         let style = ui.style();
 
         let wrap_mode = wrap_mode.unwrap_or_else(|| ui.wrap_mode());
diff --git a/crates/egui/src/widgets/button.rs b/crates/egui/src/widgets/button.rs
index 8f12e4e0..f5425980 100644
--- a/crates/egui/src/widgets/button.rs
+++ b/crates/egui/src/widgets/button.rs
@@ -251,9 +251,9 @@ impl Widget for Button<'_> {
         if image.is_some() && galley.is_some() {
             desired_size.x += ui.spacing().icon_spacing;
         }
-        if let Some(text) = &galley {
-            desired_size.x += text.size().x;
-            desired_size.y = desired_size.y.max(text.size().y);
+        if let Some(galley) = &galley {
+            desired_size.x += galley.size().x;
+            desired_size.y = desired_size.y.max(galley.size().y);
         }
         if let Some(shortcut_galley) = &shortcut_galley {
             desired_size.x += gap_before_shortcut_text + shortcut_galley.size().x;
diff --git a/crates/egui/src/widgets/label.rs b/crates/egui/src/widgets/label.rs
index 23ece9bb..1119bc14 100644
--- a/crates/egui/src/widgets/label.rs
+++ b/crates/egui/src/widgets/label.rs
@@ -162,7 +162,7 @@ impl Label {
             return (pos, galley, response);
         }
 
-        let valign = ui.layout().vertical_align();
+        let valign = ui.text_valign();
         let mut layout_job = self
             .text
             .into_layout_job(ui.style(), FontSelection::Default, valign);
diff --git a/crates/egui_demo_lib/src/demo/misc_demo_window.rs b/crates/egui_demo_lib/src/demo/misc_demo_window.rs
index df85a31b..0fd6b7fb 100644
--- a/crates/egui_demo_lib/src/demo/misc_demo_window.rs
+++ b/crates/egui_demo_lib/src/demo/misc_demo_window.rs
@@ -580,8 +580,17 @@ fn text_layout_demo(ui: &mut Ui) {
     };
 
     job.append(
-        "This is a demonstration of ",
+        "This",
         first_row_indentation,
+        TextFormat {
+            color: default_color,
+            font_id: FontId::proportional(20.0),
+            ..Default::default()
+        },
+    );
+    job.append(
+        " is a demonstration of ",
+        0.0,
         TextFormat {
             color: default_color,
             ..Default::default()
@@ -632,7 +641,7 @@ fn text_layout_demo(ui: &mut Ui) {
         "mixing ",
         0.0,
         TextFormat {
-            font_id: FontId::proportional(17.0),
+            font_id: FontId::proportional(20.0),
             color: default_color,
             ..Default::default()
         },
diff --git a/crates/epaint/src/text/font.rs b/crates/epaint/src/text/font.rs
index 8fc6e9ef..d717c3e7 100644
--- a/crates/epaint/src/text/font.rs
+++ b/crates/epaint/src/text/font.rs
@@ -468,6 +468,14 @@ impl Font {
         (Some(font_impl), glyph_info)
     }
 
+    pub(crate) fn ascent(&self) -> f32 {
+        if let Some(first) = self.fonts.first() {
+            first.ascent()
+        } else {
+            self.row_height
+        }
+    }
+
     fn glyph_info_no_cache_or_fallback(&mut self, c: char) -> Option<(FontIndex, GlyphInfo)> {
         for (font_index, font_impl) in self.fonts.iter().enumerate() {
             if let Some(glyph_info) = font_impl.glyph_info(c) {
diff --git a/crates/epaint/src/text/fonts.rs b/crates/epaint/src/text/fonts.rs
index dcfbbd7f..df583c96 100644
--- a/crates/epaint/src/text/fonts.rs
+++ b/crates/epaint/src/text/fonts.rs
@@ -189,7 +189,7 @@ impl Default for FontTweak {
             scale: 1.0,
             y_offset_factor: 0.0,
             y_offset: 0.0,
-            baseline_offset_factor: -0.0333, // makes the default fonts look more centered in buttons and such
+            baseline_offset_factor: 0.0,
         }
     }
 }
@@ -271,29 +271,26 @@ impl Default for FontDefinitions {
         let mut families = BTreeMap::new();
 
         font_data.insert("Hack".to_owned(), FontData::from_static(HACK_REGULAR));
-        font_data.insert(
-            "Ubuntu-Light".to_owned(),
-            FontData::from_static(UBUNTU_LIGHT),
-        );
 
         // Some good looking emojis. Use as first priority:
         font_data.insert(
             "NotoEmoji-Regular".to_owned(),
             FontData::from_static(NOTO_EMOJI_REGULAR).tweak(FontTweak {
-                scale: 0.81, // make it smaller
+                scale: 0.81, // Make smaller
                 ..Default::default()
             }),
         );
 
+        font_data.insert(
+            "Ubuntu-Light".to_owned(),
+            FontData::from_static(UBUNTU_LIGHT),
+        );
+
         // Bigger emojis, and more. <http://jslegers.github.io/emoji-icon-font/>:
         font_data.insert(
             "emoji-icon-font".to_owned(),
             FontData::from_static(EMOJI_ICON).tweak(FontTweak {
-                scale: 0.88, // make it smaller
-
-                // probably not correct, but this does make texts look better (#2724 for details)
-                y_offset_factor: 0.11, // move glyphs down to better align with common fonts
-                baseline_offset_factor: -0.11, // ...now the entire row is a bit down so shift it back
+                scale: 0.90, // Make smaller
                 ..Default::default()
             }),
         );
diff --git a/crates/epaint/src/text/text_layout.rs b/crates/epaint/src/text/text_layout.rs
index 96dd0675..caf14612 100644
--- a/crates/epaint/src/text/text_layout.rs
+++ b/crates/epaint/src/text/text_layout.rs
@@ -171,8 +171,12 @@ fn layout_section(
             paragraph.glyphs.push(Glyph {
                 chr,
                 pos: pos2(paragraph.cursor_x, f32::NAN),
-                size: vec2(glyph_info.advance_width, line_height),
-                ascent: font_impl.map_or(0.0, |font| font.ascent()), // Failure to find the font here would be weird
+                advance_width: glyph_info.advance_width,
+                line_height,
+                font_impl_height: font_impl.map_or(0.0, |f| f.row_height()),
+                font_impl_ascent: font_impl.map_or(0.0, |f| f.ascent()),
+                font_height: font.row_height(),
+                font_ascent: font.ascent(),
                 uv_rect: glyph_info.uv_rect,
                 section_index,
             });
@@ -376,7 +380,7 @@ fn replace_last_glyph_with_overflow_character(
 
         let (_, last_glyph_info) = font.font_impl_and_glyph_info(last_glyph.chr);
 
-        let mut x = last_glyph.pos.x + last_glyph.size.x;
+        let mut x = last_glyph.pos.x + last_glyph.advance_width;
 
         let (font_impl, replacement_glyph_info) = font.font_impl_and_glyph_info(overflow_character);
 
@@ -391,8 +395,12 @@ fn replace_last_glyph_with_overflow_character(
         row.glyphs.push(Glyph {
             chr: overflow_character,
             pos: pos2(x, f32::NAN),
-            size: vec2(replacement_glyph_info.advance_width, line_height),
-            ascent: font_impl.map_or(0.0, |font| font.ascent()), // Failure to find the font here would be weird
+            advance_width: replacement_glyph_info.advance_width,
+            line_height,
+            font_impl_height: font_impl.map_or(0.0, |f| f.row_height()),
+            font_impl_ascent: font_impl.map_or(0.0, |f| f.ascent()),
+            font_height: font.row_height(),
+            font_ascent: font.ascent(),
             uv_rect: replacement_glyph_info.uv_rect,
             section_index,
         });
@@ -409,8 +417,12 @@ fn replace_last_glyph_with_overflow_character(
         row.glyphs.push(Glyph {
             chr: overflow_character,
             pos: pos2(x, f32::NAN),
-            size: vec2(replacement_glyph_info.advance_width, line_height),
-            ascent: font_impl.map_or(0.0, |font| font.ascent()), // Failure to find the font here would be weird
+            advance_width: replacement_glyph_info.advance_width,
+            line_height,
+            font_impl_height: font_impl.map_or(0.0, |f| f.row_height()),
+            font_impl_ascent: font_impl.map_or(0.0, |f| f.ascent()),
+            font_height: font.row_height(),
+            font_ascent: font.ascent(),
             uv_rect: replacement_glyph_info.uv_rect,
             section_index,
         });
@@ -438,7 +450,6 @@ fn replace_last_glyph_with_overflow_character(
         let section = &job.sections[last_glyph.section_index as usize];
         let extra_letter_spacing = section.format.extra_letter_spacing;
         let font = fonts.font(&section.format.font_id);
-        let line_height = row_height(section, font);
 
         if let Some(prev_glyph) = prev_glyph {
             let prev_glyph_id = font.font_impl_and_glyph_info(prev_glyph.chr).1.id;
@@ -453,7 +464,9 @@ fn replace_last_glyph_with_overflow_character(
             // Replace the glyph:
             last_glyph.chr = overflow_character;
             let (font_impl, glyph_info) = font.font_impl_and_glyph_info(last_glyph.chr);
-            last_glyph.size = vec2(glyph_info.advance_width, line_height);
+            last_glyph.advance_width = glyph_info.advance_width;
+            last_glyph.font_impl_ascent = font_impl.map_or(0.0, |f| f.ascent());
+            last_glyph.font_impl_height = font_impl.map_or(0.0, |f| f.row_height());
             last_glyph.uv_rect = glyph_info.uv_rect;
 
             // Reapply kerning:
@@ -472,8 +485,10 @@ fn replace_last_glyph_with_overflow_character(
         } else {
             // Just replace and be done with it.
             last_glyph.chr = overflow_character;
-            let (_, glyph_info) = font.font_impl_and_glyph_info(last_glyph.chr);
-            last_glyph.size = vec2(glyph_info.advance_width, line_height);
+            let (font_impl, glyph_info) = font.font_impl_and_glyph_info(last_glyph.chr);
+            last_glyph.advance_width = glyph_info.advance_width;
+            last_glyph.font_impl_ascent = font_impl.map_or(0.0, |f| f.ascent());
+            last_glyph.font_impl_height = font_impl.map_or(0.0, |f| f.row_height());
             last_glyph.uv_rect = glyph_info.uv_rect;
             return;
         }
@@ -585,40 +600,36 @@ fn galley_from_rows(
     let mut min_x: f32 = 0.0;
     let mut max_x: f32 = 0.0;
     for row in &mut rows {
-        let mut line_height = first_row_min_height.max(row.rect.height());
-        let mut row_ascent = 0.0f32;
+        let mut max_row_height = first_row_min_height.max(row.rect.height());
         first_row_min_height = 0.0;
-
-        // take metrics from the highest font in this row
-        if let Some(glyph) = row
-            .glyphs
-            .iter()
-            .max_by(|a, b| a.size.y.partial_cmp(&b.size.y).unwrap())
-        {
-            line_height = glyph.size.y;
-            row_ascent = glyph.ascent;
+        for glyph in &row.glyphs {
+            max_row_height = max_row_height.max(glyph.line_height);
         }
-        line_height = point_scale.round_to_pixel(line_height);
+        max_row_height = point_scale.round_to_pixel(max_row_height);
 
-        // Now positions each glyph:
+        // Now position each glyph vertically:
         for glyph in &mut row.glyphs {
             let format = &job.sections[glyph.section_index as usize].format;
 
-            let align_offset = match format.valign {
-                Align::Center | Align::Max => row_ascent,
+            glyph.pos.y = cursor_y
+                + glyph.font_impl_ascent
 
-                // raised text.
-                Align::Min => glyph.ascent,
-            };
-            glyph.pos.y = cursor_y + align_offset;
+                // Apply valign to the different in height of the entire row, and the height of this `Font`:
+                + format.valign.to_factor() * (max_row_height - glyph.line_height)
+
+                // When mixing different `FontImpl` (e.g. latin and emojis),
+                // we always center the difference:
+                + 0.5 * (glyph.font_height - glyph.font_impl_height);
+
+            glyph.pos.y = point_scale.round_to_pixel(glyph.pos.y);
         }
 
         row.rect.min.y = cursor_y;
-        row.rect.max.y = cursor_y + line_height;
+        row.rect.max.y = cursor_y + max_row_height;
 
         min_x = min_x.min(row.rect.min.x);
         max_x = max_x.max(row.rect.max.x);
-        cursor_y += line_height;
+        cursor_y += max_row_height;
         cursor_y = point_scale.round_to_pixel(cursor_y);
     }
 
diff --git a/crates/epaint/src/text/text_layout_types.rs b/crates/epaint/src/text/text_layout_types.rs
index 2099e3cf..17826e6a 100644
--- a/crates/epaint/src/text/text_layout_types.rs
+++ b/crates/epaint/src/text/text_layout_types.rs
@@ -279,8 +279,14 @@ pub struct TextFormat {
 
     /// If you use a small font and [`Align::TOP`] you
     /// can get the effect of raised text.
+    ///
+    /// If you use a small font and [`Align::BOTTOM`]
+    /// you get the effect of a subscript.
+    ///
+    /// If you use [`Align::Center`], you get text that is centered
+    /// around a common center-line, which is nice when mixining emojis
+    /// and normal text in e.g. a button.
     pub valign: Align,
-    // TODO(emilk): lowered
 }
 
 impl Default for TextFormat {
@@ -602,13 +608,26 @@ pub struct Glyph {
     /// Logical position: pos.y is the same for all chars of the same [`TextFormat`].
     pub pos: Pos2,
 
-    /// `ascent` value from the font
-    pub ascent: f32,
+    /// Logical width of the glyph.
+    pub advance_width: f32,
 
-    /// Advance width and line height.
+    /// Height of this row of text.
     ///
-    /// Does not control the visual size of the glyph (see [`Self::uv_rect`] for that).
-    pub size: Vec2,
+    /// Usually same as [`Self::font_height`],
+    /// unless explicitly overridden by [`TextFormat::line_height`].
+    pub line_height: f32,
+
+    /// The ascent of this font.
+    pub font_ascent: f32,
+
+    /// The row/line height of this font.
+    pub font_height: f32,
+
+    /// The ascent of the sub-font within the font ("FontImpl").
+    pub font_impl_ascent: f32,
+
+    /// The row/line height of the sub-font within the font ("FontImpl").
+    pub font_impl_height: f32,
 
     /// Position and size of the glyph in the font texture, in texels.
     pub uv_rect: UvRect,
@@ -618,14 +637,20 @@ pub struct Glyph {
 }
 
 impl Glyph {
+    #[inline]
+    pub fn size(&self) -> Vec2 {
+        Vec2::new(self.advance_width, self.line_height)
+    }
+
+    #[inline]
     pub fn max_x(&self) -> f32 {
-        self.pos.x + self.size.x
+        self.pos.x + self.advance_width
     }
 
     /// Same y range for all characters with the same [`TextFormat`].
     #[inline]
     pub fn logical_rect(&self) -> Rect {
-        Rect::from_min_size(self.pos - vec2(0.0, self.ascent), self.size)
+        Rect::from_min_size(self.pos - vec2(0.0, self.font_ascent), self.size())
     }
 }